Fidelity OTC fund boosted SolarCity stake by 20 percent in May
Tweet
Share
E-mail
A sign is seen at the SolarCity building in Denver February 17, 2015. REUTERS/Rick Wilking
BOSTON (Reuters) - The Fidelity OTC Portfolio, the largest fund investor in SolarCity Corp, boosted its stake in the company by 20 percent in May, just weeks before Tesla Motors offered to buy the solar panel maker for about $2.8 billion.
Run by Gavin Baker, the $12 billion Fidelity OTC Portfolio on Thursday disclosed owning about 8.69 million shares of SolarCity at the end of May, up from 7.22 million in the previous month.
The fund owned just 4.8 million SolarCity shares at the end of October, but that position surged afterward amid a sharp decline in the company's stock price.
(This story corrects share count figure in third paragraph to 4.8 million instead of 1.38 million.)
(Reporting by Tim McLaughlin; Editing by Chizu Nomiyama)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Activist Jana Partners calls for Six Flags sale - WSJ
- Meta's Muse rekindles fears over winners and losers as personal AI agent emerges
- US lawmakers propose reforms to tool used to bar Chinese tech gear
Create E-mail Alert Related Categories
Hedge Funds, ReutersRelated Entities
TeslaSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
